Excellent Performance On The Export Front By India

Excellent performance on the export front, 35 percent more goods were sent out in 1 year. India’s total exports have increased significantly in October 2021.

According to the Ministry of Commerce, the total exports (inclusive of goods and services) in October 2021 are estimated to be 56.51 billion dollars.

This is 35.16 percent more than in October 2020. The ministry said that in October 2021, the total imports are estimated to be $ 68.09 billion, an increase of 57.32 percent.

Earlier in September, the country’s exports grew 21.35 percent year-on-year to $33.44 billion, driven by better performance in key sectors such as engineering and petroleum products.

Excellent performance on the export front: According to the ministry, commodity imports grew by 84.75 percent to $56.38 billion in September 2021.

It was $ 30.52 billion in the same month a year ago. It is also 49.58 percent higher than September 2019, when imports stood at $37.69 billion.

The ministry had said that the export of goods increased to $ 33.44 billion in September 2021.

This is 21.35 percent higher than the export of $ 27.56 billion in September 2020 and 28.51 percent as compared to the export of $ 26.02 billion in September 2019.

Engineering goods exports during the month grew by 36.7 percent to $9.42 billion as compared to September 2020.

At the same time, exports of petroleum products jumped 39.32 percent to reach $ 4.91 billion. Gems and jewelery exports grew by 19.71 percent to $3.23 billion, according to the data.

However, there was a decline of 8.47 percent in the export of medicines during this period. Exports in the first half of the financial year (April-September 2021) stood at $197.11 billion.

An increase of 56.92 percent as compared to $125.61 billion in the corresponding period of the previous year and 23.84 percent over April-September 2019

RBI may launch a pilot project related to digital currency in the first quarter of next year, it will be used as a cryptocurrency.

The Reserve Bank of India (RBI) may launch its digital currency as a pilot project in the first quarter of the next financial year.

A senior RBI official said this while giving a statement at the Banking and Economic Conference program of the State Bank of India (SBI).

P. Vasudevan, Chief General Manager, Payment, and Settlement Department, RBI, said in a statement, “I think it was being said by some that, at least by the first quarter of next year, digital A pilot project on the currency may be launched.”

“We are very excited to launch a pilot project on digital currency by the first quarter of the next financial year.”